HSBC Sustainability Chief Steps Down as Bank Rethinks ESG Strategy

HSBC’s Global Head of Sustainability, Erin Leonard, unexpectedly resigned in the midst of the bank’s strategic pivot. It’s the second high-profile ESG departure at HSBC in recent months, suggesting a re-evaluation of green policies. Insiders say new CEO Georges Elhedery wants to ensure ESG efforts align more directly with profitability. While HSBC insists it remains dedicated to net-zero goals, critics sense it may scale back climate and social initiatives. Observers view the shake-up as part of HSBC’s global restructuring, with multiple senior execs departing. Environmental advocates worry this signals retreat from ambitious commitments under past leadership. Investors, meanwhile, await clarity on whether HSBC will maintain or recalibrate its sustainability road map.